Petronas looks to cut costs by procuring personal fleet of new LNG ships

The move will give Petronas direct access to LNG shipping capacity at lowest possible costs, an official statement said. To accomplish this, Petronas said it will engage its shipping unit MISC Bhd to offer project management and consultancy services in construction of new LNG ships.

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By ABHRAJIT GANGOPADHYAYKUALA

KUALA LUMPUR -- Malaysia's state-owned oil and gas company
Petroliam Nasional Bhd, or Petronas, will directly procure new
ships to transport liqueified natural gas in a move aimed at
cutting costs, the company said in a statement Thursday.

A company's spokesman didn't comment on the current LNG
shipping strategy.